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Friday, November 24, 2006

Stock of the Day

My Stock of the Day is Rambus (RMBS).

Two weeks ago, the stock spiked higher in a huge surge in volume. The news at the time was that RMBS would receive a favorable ruling from the FTC in a legal matter pertaining to some of its patents.

Last week I took a long position in the stock, anticipating some follow-thru strength. Today, the stock is rising another +6%, on strong volume. Resistance comes into play around the 200-day moving average, currently near 24.38. But there could be more upside after that.

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About Me

Jordan Kahn, CFA is the Chief Investment Officer of KAM Advisors, in Beverly Hills, CA.
He is a frequent market commentator for numerous investment publications, and has appeared on CNBC and KNBC-Los Angeles. He is a regular columnist for RealMoney.com and has also been featured in TheStreet.com, Street Insight, Technology Investor, and Barron’s.